SPAC Patria Latin American Opportunity Acquisition Prices US$200 Million IPO

Special purpose acquisition company Patria Latin American Opportunity Acquisition Corp. (Nasdaq: PLAOU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$200 million in its initial public offering.

The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each warrant is redeemable for one Class A common share at US$11.50 per share.

The company units trade on the Nasdaq big board under the symbol “PLAOU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “PLAO” and “PLAOW”, respectively.

The company granted the underwriters, represented by J.P. Morgan Securities LLC and Citigroup Global Markets Inc., a 45-day over-allotment option to purchase additional 3.0 million company units at the same IPO price.

The offering is expected to close on March 14, 2022, subject to customary closing conditions.

The blank check company is backed by Brazilian asset management firm Patria Investimentos Ltda. For its target businesses, the firm intends to focus on Latin America and in sectors where Patria has investment expertise.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

SPAC Blockchain Moon Acquisition Prices US$100 Million IPO

Special purpose acquisition company Blockchain Moon Acquisition Corp. (Nasdaq: BMAQU) started trading publicly on the...

Tuesday, October 19, 2021, 02:44:00 PM

SPAC Gardiner Healthcare Acquisitions Prices US$75 Million IPO

Special purpose acquisition company Gardiner Healthcare Acquisitions Corp. (NASDAQ: GDNRU) started trading publicly on the...

Wednesday, December 22, 2021, 04:32:00 PM

Deep Tech Fund-Backed SPAC Ahren Acquisition Prices US$275 Million Upsized IPO

Special purpose acquisition company Ahren Acquisition Corp. (Nasdaq: AHRNU) started trading publicly on the Nasdaq...

Wednesday, December 15, 2021, 02:12:00 PM

Oncology Firm Erasca Eyes US$300 Million IPO

Precision oncology company Erasca Inc. (NASDAQ: ERAS) began trading on the Nasdaq Global Select Market...

Friday, July 16, 2021, 11:20:00 AM

Commerce SPAC Omnichannel Acquisition Announces Redemption Following No Business Combination Deal

Special purpose acquisition company Omnichannel Acquisition Corp. (NYSE: OCA) announced that it will redeem all...

Monday, May 23, 2022, 05:04:00 PM